Entropy Technologies LP Makes New Investment in Semtech Co. (NASDAQ:SMTC)

Entropy Technologies LP bought a new stake in shares of Semtech Co. (NASDAQ:SMTC) in the 4th quarter, Holdings Channel reports. The institutional investor bought 10,166 shares of the semiconductor company’s stock, valued at approximately $629,000.

Other large investors also recently made changes to their positions in the company. Huntington National Bank increased its holdings in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Semtech by 15.3% in the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after acquiring an additional 421 shares during the last quarter. Hanseatic Management Services Inc. raised its position in shares of Semtech by 3.2% in the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after acquiring an additional 447 shares during the period. Creative Planning boosted its stake in Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after acquiring an additional 588 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 598 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SMTC. Robert W. Baird cut their target price on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Northland Securities raised their price objective on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Roth Mkm boosted their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Benchmark raised their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC decreased their price objective on Semtech from $74.00 to $54.00 and set a “buy” rating for the company in a research report on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.91.

Semtech Stock Up 1.5 %

NASDAQ:SMTC opened at $38.18 on Wednesday. Semtech Co. has a twelve month low of $19.12 and a twelve month high of $79.52. The company has a market cap of $2.89 billion, a P/E ratio of -2.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.64. The business has a 50 day moving average price of $64.77 and a two-hundred day moving average price of $50.85.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same quarter in the previous year, the company posted $0.02 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year.

Insider Activity

In other news, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares of the company’s stock, valued at $1,050. This trade represents a 98.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. This represents a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock worth $1,095,061 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Semtech Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.